A credit card dump is a specific type of swindling. It is used by criminals who have gained access to a company’s database to swindle account holders. In this case, the criminal uses their control of the database to dump large numbers of accounts which they can then charge up and disappear with. This is done in most cases just before the cardholder realizes what has happened.
A credit card dump occurs when a retailer does not have the time or resources to verify all of the details provided by a credit card customer. Often, a credit card company does not check the history of an account for fraud alerts. This means that any number of new credit card transactions can occur while these account details are in dispute. The bank staff will usually give out the customer’s account details to the customer service desk for them to check against the credit card dumps that have been received from Carding Forums.
A common method that most credit card companies use to combat this problem is to change the way that they check out information on their customers. This is done by updating the information sent through the electronic system. The software used to process the checks will often have a list of addresses that are either blocked from processing checks from that address or have a higher priority. Those checks that are processed will often be the last in the queue.
The most common method of changing information to stop credit cards from being dump is to use what is known as a malware blocker. This software stops the computer from accepting or executing any commands given to it from an external source. As many cases of dumpster diving have shown, some criminals will use sophisticated software to block off parts of the computer or even the entire network. This software is typically available to customers for a price and is quite effective.
In some extreme cases, a customer may be able to dumpster dive without knowing the actual software that is being used to block the command. In these cases, the credit card details of the customer are simply dumped into an online dumpster. The online dumpster will then be available for others to view. This allows many criminals to obtain a full copy of the card details that were dumped. This is in addition to the money that was stolen. These payment card details can then be sold on the black market.
Dumpster divers can obtain information for about 90% of all credit card dumps that happen each year. Criminals will search through dumpsters to find the items that they need to commit fraudulent activity. Most people that do so will never know that this crime even took place. It is estimated that over $20 million is stolen each year from dumpster divers.
This amount of money could be used to finance a crime that results in hundreds or thousands of dollars in damages. However, it is still important to be aware that using these services does put your safety at risk but is much safer than using your credit card to make purchases online.